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DENVER-The Denver office of CBRE Melody arranged a $67.5-million loan for to Triple Net Properties, which recently bought 633 17th St. for about $90.25 million. The loan to Santa Ana, CA-based Triple Net was secured by Eric Tupler, senior director of CBRE Melody’s Denver office. LaSalle Bank provided the financing.

Terms of the financing include a 10-year loan with four years of interest-only payments followed by a 30-year amortization at a fixed rate of 5.7%. The loan represented approximately 75% of the property cost. In order to obtain the high loan proceeds, the loan contained an A/B Note structure.

The building is a 32-story high-rise office building that was built in 1974 with a net rentable area of 552,988 sf. At the time of financing, 633 17th St. was 88% leased to tenants that include the law firms of Sherman & Howard, and Isaacson Rosenbaum PC, as well as the Colorado Department of Labor & Employment and the Colorado Department of Personnel & Administration. The property includes a 924-space parking garage and adjacent 220-space surface lot. It was sold by Prudential Real Estate. The CB Richard Ellis institutional group of Mary Sullivan, Tim Swan and Ron Urgitus represented Prudential in the transaction.

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